The offer is above all my buy in prices but it still throws us all under the bus compared to what PGO could be sitting it if Hanking wasn't pinging the share price for months in a bullish gold market. I wouldn't know if any securities trading rules have been broken in the lead up to this announcement but it could warrant further investigation by ASIC / ASX.
- Its not all bad though, another takeover offer will likely come in as a result, buying interest will be increased from media over less selling and the share price will consolidate around 0.0575.
Bottom line don't accept the offer, this has a lot more room for the share price to appreciate but at the end of the day DYOR.
Ann: RECOMMENDED CASH OFFER BY HANKING FOR PRIMARY GOLD, page-33
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